Planning universities for higher education can be done by insurance money!
Now parents can open education insurance funds for their child’s higher education. With increasing competition and price hike in admission for degree programs ( Doctorate, engineering, arts, science, finance and management), an additional source of funds is always a better option. When you take out an insurance policy for your child’s education, you reap other benefits of tax saving, leverage the plan for loans.
These could be a term or permanent insurance plan for their kids education.
Education insurance corporation are consistently working to bring out plans that could benefit the parents. Wisconsin, Oklahoma, Ohio, New York, North Carolina are some places where education insurance has seen a boom in recent years.
With the increasing number of natural calamities, people find it safe to invest in education funds for their children.
Investment perspective Education insurance plans
Sunlife education insurance issued a statement about how a little amount per month can help a child’s education. In Philippines, people can invest as low as 2000 pesos per month to contribute towards the education funds of their children.
Similarly, in the USA, you can calculate the average cost of admission in uni for an engineering degree and add up a 4% rise per year to start a fund for your child’s education.
How many education insurance plans one can have!
In the USA, you can have one plan per child, or you could have a corporate policy that releases money on fixed intervals. This can be used for admission, medical or life insurance claims, and other liabilities.
To help your child understand the importance of insurance and money, you can enroll them on insurance websites. These websites run webinars and send study material of frequent intervals to inform about the changes and benefits of the policy.
The best gift you can give your child is the admission in top university for their passion to come alive.